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Pico and ME · 10-05-2011, 11:22 AM

I like this unintended consequence of the Durbin amendment.

I don't think its right that businesses are held hostage to the swipe fees that banks charge them, because they would lose customers if they started denying cards. It feels sort of like a monopoly. But that's not necessarily true for bank customers. They can shop around for banks that either don't charge fees or at least charge the lowest fee.

10-05-2011, 11:22 AM	#27
Pico and ME Are you knock-kneed? Join Date: Jul 2008 Location: Middle Hoosierland Posts: 3,549	I like this unintended consequence of the Durbin amendment. I don't think its right that businesses are held hostage to the swipe fees that banks charge them, because they would lose customers if they started denying cards. It feels sort of like a monopoly. But that's not necessarily true for bank customers. They can shop around for banks that either don't charge fees or at least charge the lowest fee. __________________ Jesse LaGreca in 2012 “Seven Deadly Sins: Wealth without work, Pleasure without conscience, Science without humanity, Knowledge without character, Politics without principle, Commerce without morality, Worship without sacrifice.” – Mahatma Gandhi